LB Group acquires Venator's UK titanium dioxide assets

On October 15, LB Group, through its subsidiary Billions Europe Ltd., signed an asset purchase agreement with Venator Materials UK Limited (Venator UK) to acquire assets related to Venator's titanium dioxide business in UK. The acquisition includes land, buildings, machinery, spare parts, business records, intellectual property, and inventories, totaling approximately USD69.9 million. Additional taxes, including VAT and stamp duties, are estimated at USD14.19 million. The acquisition will be funded through the company's own capital or raised funds.

Venator Materials PLC operates titanium dioxide production using both the sulfate and chloride processes. Its subsidiary Venator UK is the company's only chloride-route titanium dioxide plant, with a designed capacity of 150,000 tonnes per year. The acquired assets are currently being phased into a shutdown process.

LB Group stated that the acquisition will help advance its global industrial layout, expand its chloride-route titanium dioxide product portfolio, and promote the growth of its overseas business.